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☆ Bitcoin's march to $100,000 stalls. Here's what's keeping it below the milestone
▼ + stars: | 2024-11-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Bitcoin hit a new record high last week, with prices climbing above $99,000 for the first time. CNBC asked analysts for their take on why bitcoin has so far failed to breach the widely-watched $100,000 mark. "There's a ton of leverage in the system right now," Novogratz, a longtime crypto investor, told CNBC's "Squawk Box" on Friday. Novogratz added that he's advocating investors buy "straight bitcoin" rather than bitcoin-exposed plays, such as MicroStrategy which owns a huge, multi-billion-dollar pile of bitcoin in its corporate treasury reserves. Deutsche Bank's Laboure said she thinks the idea of a U.S. national bitcoin is still far off, practically speaking.

Persons: Fernando Gutierrez, Donald Trump, Trump's, hasn't, bitcoin, Andre Dragosch, Bitwise, Bitcoin, Dragosch, Novogratz, CNBC's, David Morrison, Morrison, Marion Laboure, Trump, Gary Gensler —, Deutsche Bank's Laboure, Laboure Organizations: Getty, CNBC, Galaxy Digital, Trade, Deutsche Bank, bitcoin, Trump, Securities, Exchange, Deutsche Locations: Juarez, Europe, U.S

☆ Russia's invasion is showing the West war isn't just about having the best weapons — it's also about having more
▼ + stars: | 2024-11-25 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +7 min

But it needs to invest more in quantity if it wants to defend against Russia, warfare experts said. Russia's invasion of Ukraine is showing the West the value of quantity over quality. AdvertisementAnd in the aftermath of the Cold War, Western stockpiles of weaponry diminished and industry shrunk, leaving it less prepared to build large quantities of munitions and equipment. Advertisement"Assuming that you don't decisively defeat the Russians in the opening phase of the war," Barros said, "you're going to burn through all your ATACMS and HIMARS missiles and artillery ammunition." In an image taken from a video distributed by the Russian Defense Ministry Press Service in October, a Russian 120mm mortar crew fires toward a Ukrainian position.

Persons: Zelenskyy, Mick Ryan, George Barros, Abrams, Michael O'Hanlon, Barros, ANATOLII STEPANOV, that's, isn't, O'Hanlon, William Alberque, Alberque Organizations: Australian Army, Institute for, NATO, American, Brookings Institution, Getty, Stimson Center, Russian Defense Ministry Press Service, AP Locations: Ukraine, Western, Russia, China, West, Soviet, Ukraine Russia, Russian, Ukrainian, North Korea, Iran

☆ Crowds Watch Israeli Airstrikes from a Beirut Hillside
▼ + stars: | 2024-11-25 | by ( Christina Goldbaum | ) www.nytimes.com time to read: +1 min

The crowds gather every evening on a scenic hillside on the outskirts of Beirut. Young men, old couples and local journalists, all drawn by the unobstructed view of the Dahiya, the cluster of neighborhoods south of Beirut that has been pummeled by Israeli airstrikes over the past two months. As dusk settles, people seated on motorcycles and atop cement barriers anxiously wait for the war to unfold in front of them. In peacetime, the area is a picnic spot, where old friends and young lovers smoke fruit-flavored tobacco through water pipes and watch a deep red sun melt into the Mediterranean Sea. These days, the hillside offers a window into the war that has decimated the enclave south of the city in the Dahiya.

Persons: Osama Assaf Locations: Beirut, Young, Israel, Baabda, Lebanon’s

☆ Moving internationally taught me how to declutter. Now, my husband and I live a minimalist lifestyle.
▼ + stars: | 2024-11-25 | by ( Maria Polansky | ) www.businessinsider.com time to read: +4 min

Now, my husband and I live a minimalist lifestyle. Over the past five years, as I moved from Canada to the UK and back again, I've absolutely mastered the art of decluttering. AdvertisementRemembering how long it took me to declutter and pack before moving the first time around, I began the process five months before our official move. Maria Polansky and her husband now live a minimalist lifestyle. Since we've been back in Canada, we've adopted a minimalist lifestyle and have been very selective with what enters our home.

Persons: I've, Monica Geller's, pare, We'd, Maria Polansky, I'm, we've, we're Organizations: Facebook, We're Locations: Canada, Birmingham, Vancouver

☆ Stocks making the biggest moves premarket: Robinhoood, Bath & Body Works, MicroStrategy, Macy's and more
▼ + stars: | 2024-11-25 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Bath & Body Works — Shares popped 16% after third-quarter earnings edged out Wall Street forecasts. Robinhood — Shares of the brokerage firm rose more than 7% after Morgan Stanley upgraded the stock to overweight from equal weight. Macy's — Shares of the retailer fell 3% after Macy's said it was delaying its official third-quarter results due to discovering that an employee had intentionally made incorrect accounting entries to hide delivery expenses. Abercrombie & Fitch — Shares rose 3% ahead of its third-quarter earnings expected Tuesday before the bell. Arm Holdings — Shares rose more than 1% after UBS initiated coverage of the chipmaker with a buy rating, citing upside from artificial intelligence demand.

Persons: LSEG, Morgan Stanley, Macy's, Oppenheimer, Bernstein, Sally Beauty, Cowen, Oliver Chen, —, Jesse Pound, Alex Harring, Michelle Fox, Samantha Subin, Pia Singh Organizations: Abercrombie, Fitch, FactSet, —, Sally Beauty Holdings, Santander —, UBS Locations: Hollister

☆ The new features bringing new passengers to cruise ships
▼ + stars: | 2024-11-25 | by ( Natasha Chen | ) edition.cnn.com time to read: +7 min

In 2029, the Oriental Land Company, which owns Tokyo Disney Resort, will launch a Disney cruise ship out of Japan. So to bring the brand over in terms of a cruise ship is again another brilliant move on their part. Occupancy is high on Disney ships, at 98% across the five existing ships in fiscal year 2024, according to a company fact sheet. Bigger players, such as Carnival Corporation, Royal Caribbean Group and Norwegian Cruise Line, have more ships in their fleet than Disney Cruise Line and have been in the business longer. Royal Caribbean's Icon of the Seas is currently the world's largest cruise ship, and it's loaded with family friendly attractions.

Persons: “ Coco, ” That’s, ”, Beci Mahnken, Kent Phillips, Mahnken, Kyle Valenta, Disney, ” Valenta, “, ” Mahnken, Thomas Mazloum, ” Mazloum, Joe Raedle, Valenta Organizations: CNN, “, MEI, Disney, Cruise Lines International Association, Cruise, Oceaneer Club, Disney Treasure, Disney Disney, Oriental Land Company, Tokyo Disney Resort, Hong Kong Disney, Tokyo Disney …, Shanghai Disney, Disney Cruise, Geographic, Disney Vacation, Carnival Corporation, Royal Caribbean Group, Royal Locations: Asia, Singapore, Tokyo, Japan, Hong Kong, Shanghai, It’s, Hawaii, Royal Caribbean

☆ Laos methanol poisonings: Father of Australian teen who died urges government ‘to protect others’ from tainted alcohol
▼ + stars: | 2024-11-25 | by ( Helen Regan | ) edition.cnn.com time to read: +8 min

CNN —The father of an Australian teenager who died from methanol poisoning while on a backpacking holiday has issued a plea to the Laos government to fully investigate his daughter’s death and ensure such incidents don’t happen again. Bianca Jones, 19, was one of six foreign tourists who died in a suspected mass methanol poisoning in Vang Vieng, a popular backpacker destination in northern Laos. Bianca Jones was enjoying a backpacking trip to Laos with her friend when they became severely ill after a night out in Vang Vieng. Foreign tourists float on tubes in a river in Vang Vieng, Laos, on November 19, 2024. Anupam Nath/APA major part of that much-needed revenue comes from towns like Vang Vieng.

Persons: Bianca Jones, –, Mark Jones, Bianca’s, “, …, ”, Bianca Jones ’, Holly Bowles, ” Jones, ” “, “ We’ll, Simone White, Anne, Sofie Orkild Coyman, Frela Vennervald Sorensen, James Louis Hutson, Colin Ahearn, ” Ahearn, Anupam Nath Organizations: CNN, Nine, Nine News, Lao News Agency, Vientiane Times, Laos Police Immigration Department, Associated Press, Police, Tourism, UNESCO, Initiative, China Railway Locations: Laos, Vang Vieng, British, American, Thailand, Vientiane, Vang Vieng District, Vientiane Times, Vang Vieng’s, Backpacker, Asia, Bali, ”, Southeast Asia, Vang, Luang Prabang, South Korea, China, Kunming, –

☆ At least 1 person is dead after a DHL cargo plane crashed into a house
▼ + stars: | 2024-11-25 | by ( Aditi Bharade | Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +3 min

AdvertisementA DHL cargo plane crashed into a house near Lithuania's Vilnius airport. A DHL cargo plane crashed into a house near Lithuania's Vilnius airport, killing at least one person and injuring three others. The plane, a Boeing 737 aircraft en route from Germany, crashed outside Vilnius International Airport at around 5:30 a.m. local time, the airport said on Facebook. All 12 residents of the house that was crashed into are safe and have been evacuated, Reuters reported, citing information from a police press conference. "Residential infrastructure around the house was on fire, and the house was slightly damaged, but we managed to evacuate people," he added.

Persons: Valdas Benkunskas, Benkunskas, Benkuskas, Arūnas Paulauskas, Paulauskas Organizations: DHL, Boeing, Facebook, Swift Air, LEJ Airport, VNO, Associated Press, Reuters, AP, CNN Locations: Lithuania's Vilnius, Leipzig, Germany, Vilnius, Nepal, Lithuania, VNO

☆ Lunchables were a smashing success. Now they’re in crisis
▼ + stars: | 2024-11-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Lunchables’ slide is hurting its parent company, Kraft Heinz. The end result isn’t just that Lunchables sales are down — numerous competitors have popped up, including Lunchly by YouTube stars Logan Paul and MrBeast. Kraft Heinz also pitched Lunchables to budget-strapped school cafeterias as a way to save money on labor and other costs. Kraft Heinz criticized the findings and said the report contributed to Lunchables’ sales slide. Lunchables’ ‘transformation’Despite Lunchables’ recent woes, Kraft Heinz says it’s investing in the brand.

Persons: Kraft Heinz, Kraft, Lunchables, ”, Diana Frost, “, Logan Paul, MrBeast, It’s, Matt McClain, Carlos Abrams, Rivera, ” Frost, Oscar Mayer, Michael Moss ’, ” Moss, ” Lunchables, Moss, Justin Sullivan, Bob Drane, it’s, “ Lunchables, Frost, David Garfield Organizations: New, New York CNN, CNN, YouTube, Washington Post, ”, School, Center for Science, Consumer, US Department of Agriculture, Kraft, School Nutrition Association, Crain’s Magazine Locations: New York, Euromonitor, Turkey, bologna, Moss

CNN —At least five people have died as Storm Bert swept across the United Kingdom, causing power outages and widespread train and flight cancelations. Further north, a 34-year-old man died in a single-vehicle collision in the early hours of Saturday, West Yorkshire Police said. There have been 53 heavy rainfall reports across the UK, according to the European Severe Weather Database. More than 60 flood warnings and alerts were reported in Wales alone for the past day, according to Natural Resources Wales. The cold front associated with Storm Bert will impact parts of western Europe, where orange warnings for high winds are in place for parts of Germany and France.

Persons: Storm Bert, Matthew Horwood, Keir Starmer Organizations: CNN, West Yorkshire Police, Getty, Media, North Wales Police, Lancashire, PA Media, UK Meteorological Office, Met, London Heathrow Airport, Western Railway, Northern Rail, Southern Electricity Networks, Natural Resources, ” Locations: United Kingdom, Wales, Britain, Winchester, Northamptonshire, Pontypridd , Wales, floodwater, England, Northern Ireland, Scotland, London, Sion, Swansea, Exeter, Okehampton, Barnstaple, Lancaster, York, Sheffield, Natural Resources Wales, Europe, Germany, France

☆ Dominique Pelicot rape trial: Prosecutor requests 20-year sentence
▼ + stars: | 2024-11-25 | by ( Saskya Vandoorne | Niamh Kennedy | ) edition.cnn.com time to read: +2 min

Avignon, France CNN —Dominique Pelicot, the man who organized for more than 50 men to rape his unconscious wife, is “fully responsible” for his actions, a French public prosecutor told court after requesting the maximum prison sentence of 20 years. Dominique Pelicot fits this bill. Over a period spanning nearly 10 years, Dominique Pelicot used an online website and messaging platforms to seek out men from a radius spanning roughly 25 miles (40 kilometers). Pelicot has admitted to habitually drugging his wife with a strong sedative before allowing strangers to sexually abuse her. Dominique Pelicot kept his eyes closed and looked down at the ground during the hearing.

Persons: France CNN — Dominique Pelicot, Laure Chabaud, Dominique Pelicot, ” Chabaud, “, Gisele Pelicot, Sarah Meyssonnier, Reuters Pelicot, Pelicot, Beatrice Zavarro, Saskya Vandoorne, Niamh Kennedy Organizations: France CNN, Reuters Locations: Avignon, France, French, Mazan, London

Comparable sales for its owned and licensed businesses, plus its online marketplace, dropped 1.3%. Macy's said it found "an issue related to delivery expenses in one of its accrual accounts" while preparing its quarterly results. At Bloomingdale's, comparable sales climbed 3.2% on an owned-plus-licensed basis, including the third-party marketplace. And Bluemercury comparable sales increased 3.3%, marking the 15th consecutive quarter of comparable sales growth for the beauty brand. At the Macy's stores that will remain open, comparable sales were down 0.9% on an owned-plus-licensed basis, including the third-party marketplace.

Persons: Macy's, Tony Spring Organizations: Inc, Macy's Media Network Locations: Bloomingdale's

☆ Oil prices ease but remain near 2-week highs on Russia, Iran tensions
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +3 min

Oil prices retreated on Monday following 6% gains last week, but remained near two-week highs as geopolitical tensions grew between Western powers and major oil producers Russia and Iran, raising risks of supply disruption. "Oil prices are starting the new week with some slight cool-off as market participants await more cues from geopolitical developments and the Fed's policy outlook to set the tone," said Yeap Jun Rong, market strategist at IG. "Tensions between Ukraine and Russia have edged up a notch lately, leading to some pricing for the risks of a wider escalation potentially impacting oil supplies." Enforced sanctions could sideline about 1 million barrels per day of Iran's oil exports, about 1% of global oil supply, he said. Investors were also focused on rising crude oil demand at China and India, the world's top and third-largest importers, respectively.

Persons: Jun Rong, Trump, Brent, Yeap, centrifuges, Vivek Dhar, Priyanka Sachdeva, Phillip Nova, Sachdeva Organizations: Brent, U.S, West Texas, Russia, IG, IAEA, Commonwealth Bank of Australia Locations: Russia, Iran, Ukraine, United States, Kyiv, Iranian, China, India, U.S

☆ Celebrity lookalike contests are taking over the internet. But they aren’t new
▼ + stars: | 2024-11-25 | by ( Leah Dolan | ) edition.cnn.com time to read: +9 min

It feels all the more fitting then, that amid today’s geopolitical conflicts, increasing climate catastrophes and economic uncertainties, we’re seemingly hooked on celebrity lookalike contests. But the idea of a lookalike contest is in fact a time-honored form of entertainment. Nine girls in a Fox Films and Daily Telegraph Shirley Temple lookalike contest in Sydney, Australia, October 1934. For the last 40 years, a bar in Key West, Florida has been staging an annual Ernest Hemmingway lookalike competition. Humanity isn’t fixed.”Oscar Journeaux won the Harry Styles lookalike competition on November 9 in London.

Persons: Timothée Chalamet, jostle, YouTuber Anthony Po, Oscar, ” Reed Putman, ”, Paul Mescal, Harry Styles lookalikes, Matthew Chattle, Max Braunstein, Glen Powell, Mikala Compton, Harry Styles, Dev Patel’s doppelgänger, Zayn Malik’s, Jeremy Allen White, White, Carmy, —, White’s, Daily Telegraph Shirley Temple, Charlie Chaplin, Dolly Parton, Shirley Temple, femme, Myrna Loy, Alice Faye, Katharine Hepburn, Ernest Hemmingway, Ellis Cashmore, “, Oscar Journeaux, Leon Neal, Angie Huntley, Jim Wilkes, Cashmore, ” Andy Harmer, David Beckham, Lookalikes, it’s, ” Harmer, Beckham, Victoria Beckham, Andy Harmer, Camilla Shadbolt, David, Fiona Hanson, Denise Ohnona, Kate Moss, Ohnona, Stephane Cardinale, Corbis, Manel Esteller, Harmer, Vetements, “ She’s, You’re, ” Miles Mitchell, Stefan Jeremiah, lookalikes Organizations: CNN, Washington, “, Gaelic Athletic Association, American, Statesman, USA, Marlboro Reds, Fox Films, Daily Telegraph, Mitchell Library, State Library of New, Cleveland Food, Toronto Star, Argentina, University of Barcelona’s School of Medicine, Cell, Paris Fashion Locations: Ireland, London, Austin , Texas, San Francisco, New York, Chicago, “ The, Oakland , California, Sydney, Australia, State Library of New South Wales, Hollywood, Santa Monica, Cleveland, Key West , Florida, British, Toronto, Canada, Victoria, Lancashire

☆ Want to buy the dip in renewables? Morgan Stanley names 2 top picks with 60% upside
▼ + stars: | 2024-11-25 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

The sustainability theme faces an uncertain future under President-elect Donald Trump, but Morgan Stanley has named a number stocks with major upside. Here are two of Morgan Stanley's top stocks with over 60% upside potential: EDP Renovaveis The investment bank is bullish on EDP Renovaveis and has a target price of 18 euros ($18.68), giving it nearly 66% upside potential. RWE Also on Morgan Stanley's list is German electric utility company RWE , which it describes as a "global leader in renewables." The bank's analyst Rob Pulleyn sees RWE as "oversold on a combination of falling power prices earlier in 2024 and fears around renewables value creation." Morgan Stanley has a target price of 50 euros ($169.50) on the Frankfurt-listed stock, giving it almost 60% potential upside.

Persons: Donald Trump, Morgan Stanley, Morgan, Arthur Sitbon, Sitbon, Rob Pulleyn, — CNBC's Michael Bloom Organizations: Big Tech, Frankfurt Stock Exchange Locations: U.S, Europe, Lisbon, Portugal, Frankfurt

☆ UBS says this AI play is a buy with nearly 20% upside ahead
▼ + stars: | 2024-11-25 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

In addition to growth in the smartphone market, Arcuri sees the AI megatrend spurring expansion in PCs and data centers for Arm. Arm's data center share should expand even faster, Arcuri said. Specifically, he forecasts that the company's market share in that space will more than triple from less than 5% in 2023 to the mid-teens in 2028. "Arm's three decade track record of R & D productivity shows that the R & D investments it is making today will underlie the next decade's stream of high-margin revenue," Arcuri said. ARM YTD mountain ARM, year-to-date The stock moved about 2% higher in the premarket following the move.

Persons: Timothy Arcuri, Arcuri Organizations: UBS, ARM

☆ Inside the Trump-Fueled Lobbying Frenzy From Mar-a-Lago to Washington
▼ + stars: | 2024-11-25 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +9 min

Never before, lobbyists say, has the geographic center of power shifted so dramatically with the arrival of a new administration. By leveraging his access to Trump, Ballard Partners was able to compete with the old white-shoe lobbying firms that have been the industry's dominant players for decades. Corporate clients need lobbyists who appreciate that Trump is "disrupting the status quo in Washington," Sayfie, the Ballard lobbyist, says. Some major companies, lobbyists say, have been caught off guard by the rapid pace of Trump's transition moves. Those who bankroll his staff and travel before he takes office, lobbyists say, stand to build connections and curry favor with the once and future commander in chief.

Persons: Donald Trump, Bill Helmich, Trump, Evan Power, who's, MAGA, Justin Sayfie, we've, Andrew Jackson, Trump's, Brian Ballard, Ballard, Jeffrey Brooks, Adams, Reese, Susie Wiles, Pam Bondi, Alex Brandon, Matt Slocum, Colin Roskey, Dave Wenhold, Miller, There's, Scott Mason, Knight, John Deere, Mason, Dave Levinthal Organizations: White House, Business, Florida GOP, Mar, Trump, Republicans, America, Washington, Ballard Partners, Google, American Airlines, Honda, Reynolds American, Geo Group, American Health Care Association, White, Facebook, Washington D.C Locations: Washington, —, Florida, Palm Beach, Doral, Mar, Holland

☆ At TikTok's LA creator summit, the company pushed long-form video and ignored the looming ban threat
▼ + stars: | 2024-11-25 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +4 min

AdvertisementTikTok hosted a Los Angeles creator summit focused on long-form content and monetization. The event emphasized high-quality content but notably left out the looming US ban. The company's creator summit in Los Angeles focused on horizontal long-form video, platform monetization, and the power of fandoms. Amanda Perelli/Business InsiderTips TikTok shared with creatorsIn a keynote presentation, Samuels said TikTok was looking for creators who could master storytelling. AdvertisementHigher-quality content also performs better on TikTok's horizontal video tool, TikTok said at the event.

Persons: TikTok, TikTok execs, —, I'm, Kim Farrell, TikTok's, Farrell, Melissa Tecson, Norissa Samuels, Tecson, Linqia, Amanda Perelli, Samuels Organizations: YouTube Locations: Angeles, Los Angeles, North America

☆ Can Saudi Arabia keep pace with its ambitious mega-project spending spree?
▼ + stars: | 2024-11-25 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Digital render of NEOM's The Line project in Saudi Arabia The Line, NEOMIn Saudi Arabia's northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. The changes come as the Saudi deficit grows and the outlook for oil demand, along with global oil prices, sees sustained lows. Construction for The Line project in Saudi Arabia's NEOM, October 2024 Giles Pendleton, The Line at NEOMThat begs the question: does Saudi Arabia have enough money to meet its lofty goals? Saudi Arabia has poured tens of billions into projects that have yet to hint of any financial returns." Saudi Arabia has an A/A-1 credit rating with a positive outlook from S&P Global Ratings and an A+ rating with a stable outlook from Fitch.

Persons: Prince Mohammed bin Salman, Saudi Arabia's NEOM, Giles Pendleton, Andrew Leber, Leber, Mohammed Al, Jadaan Organizations: Saudi, Public Investment Fund, CNBC, Tulane University, Saudi Finance, Fitch, —, P Global, Al Locations: Saudi Arabia, NEOM, Saudi, Neom, Saudi Arabia's, Riyadh

☆ Russian food prices are soaring — but no one dares blame Putin and the war
▼ + stars: | 2024-11-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +4 min

Sopa Images | Lightrocket | Getty ImagesCustomers shop for milk and dairy items inside an Auchan Retail International hypermarket in Moscow, Russia. Russia's leadership has looked to dodge criticism for the price rises, blaming "unfriendly" countries (that is, Ukraine's allies) for the conflict, sanctions and supply shortages. "Smart people ... understand what is happening with the economy, but most people accuse foreign 'unfriendly' countries [of being to blame for the price rises]. Last year, a shortage of eggs — and price rises of more than 40% — prompted the government to remove import duties on the product. Russian President Vladimir Putin attends a meeting with First Deputy Prime Minister Denis Manturov in Moscow, Russia November 20, 2024.

Persons: Anton Barbashin, Riddle, Ukraine's, Vladimir Putin, Putin, Stanislav, Denis Manturov, Vyacheslav Prokofyev Organizations: Getty, Bloomberg, CNBC, Ukraine, International Monetary Fund, TASS, Reuters Locations: St . Petersburg, Moscow, Russia, Russian, Europe, Ukraine, Belarus, Azerbaijan, Turkey

☆ Indian regulator rejects Apple request to put antitrust report on hold
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +2 min

India's antitrust body has turned down a request from Apple to put a hold on an investigation report which found the company breached competition laws, allowing the case to continue, an internal order from the regulator seen by Reuters showed. The CCI internal order showed that Apple alleged in November that the main complainant in the antitrust investigation—the Indian non-profit Together We Fight Society (TWFS)—had not complied with the directives to give an assurance that the old investigation reports had been destroyed. Apple asked the CCI "to take action against TWFS for non-compliance with its order" and "to withhold the revised" report, the CCI order, dated Nov. 13, seen by Reuters showed. "Apple's request to hold the investigation report in abeyance was deemed untenable," the CCI said in the order. The CCI's senior officials will review the investigation report and make a final ruling on the case.

Persons: Apple, —, TWFS Organizations: Apple, Reuters, of India, Society Locations: Mumbai, India

☆ Macy's delays earnings to complete investigation into a worker hiding over $130 million in expenses
▼ + stars: | 2024-11-25 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

AdvertisementMacy's has delayed Q3 earnings as it investigates over $130 million in hidden expenses. Macy's said a single employee was responsible for "erroneous accounting accrual entries." The employee is no longer working at Macy's, the company said. Macy's just delayed its third-quarter earnings, saying it is undertaking a forensic investigation into a single employee's concealment of more than $130 million in expenses. The individual who engaged in this conduct is no longer employed by the company," the company said.

Persons: Macy's, —, Tony Spring Organizations: Business Locations: Macy's

☆ Egyptian authorities say 17 people missing after tourist boat sinks in Red Sea
▼ + stars: | 2024-11-25 | by ( Story Associated Press | ) edition.cnn.com time to read: +1 min

Cairo AP —At least 17 people are missing after a tourist yacht sank in the Red Sea following warnings about rough seas, Egyptian officials said Monday. The governor of the Red Sea region, Amr Hanafy, said rescuers saved 28 people from the vessel south of the coastal town of Marsa Alam, and some were airlifted to receive medical treatment. The governorate received a report shortly before dawn Monday of a distress call made from the yacht, which had left Marsa Alam for a five-day journey. But the Egyptian Meteorological Authority on Saturday warned about turbulence and high waves on the Red Sea and advised against maritime activity for Sunday and Monday. Many tourist companies have stopped or limited traveling on the Red Sea due to the dangers from conflicts in the region.

Persons: Amr Hanafy, Hanafy Organizations: Cairo AP, Marsa Alam, Egyptian Meteorological Authority, Associated Press Locations: Cairo, Marsa Alam, Marsa, Hurghada, Egypt

☆ An American Airlines passenger was taken to hospital after severe turbulence caused a 4-hour flight to nowhere
▼ + stars: | 2024-11-25 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

AdvertisementAn American Airlines flight returned to São Paulo after turbulence injured a passenger. An American Airlines passenger was taken to hospital after their flight encountered turbulence. Data from Flightradar24 shows that Saturday's Flight 930 from São Paulo to Miami U-turned less than two hours after taking off. Related Video Severe turbulence launches passengers to the ceiling of Singapore Airline flightAn airline spokesperson confirmed to Business Insider that the flight landed safely back in São Paulo "after encountering turbulence while in flight." A Singapore Airlines passenger died, and dozens more were injured during severe turbulence in May.

Persons: São Paulo Organizations: American Airlines, Singapore Airline, Business, Boeing, Aviation Herald, Singapore Airlines, Korean, University of Reading Locations: Miami, Singapore, São, Brazil

☆ Tim Cook heads to China for the 3rd time this year as Apple prepares for Trump trade policies
▼ + stars: | 2024-11-25 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

AdvertisementApple CEO Tim Cook is visiting China for the third time this year. Cook attended discussions focused on supply chain and trade issues, per Bloomberg. Apple CEO Tim Cook is visiting China for at least the third time this year as the tech giant prepares for president-elect Donald Trump's proposed import tariffs and the impact on global trade. AdvertisementAccording to Bloomberg, the discussion was focused on supply chain and trade issues. AdvertisementCook has made at least three public appearances in China this year to show his commitment to the country.

Persons: Tim Cook, Cook, Donald Trump's, Premier Li Qiang, Trump Organizations: Bloomberg, Apple, Premier, Beijing, Trump, Companies, China Central Television, Huawei Locations: China, Beijing

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